Market report:The Iseq index reached yet another high in thin holiday trading yesterday as the Dublin market matched festive spirits on European and US markets.

But with most traders taking advantage of the Christmas holiday, there was little enough by way of real action. The Iseq closed the third-last day of trading in the year at 9.364.48, having touched 9,421.30 earlier on.

Only a couple of weeks have passed since the benchmark index reached 9,000, but there's no indication yet of any waning of enthusiasm for such levels.

Market participants stressed that volumes were quite thin, so prices were subject to distortion on relatively small trades. "It's extremely quiet. I don't think there's any real news," said one.

With bid talk sending Dragon Oil higher in London, the stock rose 15 cent in Dublin to close at €2.56.

Most of the gains yesterday were weighted in favour of general stocks, which rose 1.01 per cent. Those making the running included market heavy-hitter CRH, which rose 17 cent to €31.05, and C&C, which rose 15 cent to €13.45.

Ryanair added 21 cent to close at €10.36 while Aer Lingus, in which it retains a rather large stake, added 2 cent to €2.75. On a day in which sport was dominated by race meetings, bookmaker Paddy Power gained 10 to close at €15.50.

Thanks in the main to a 20 cent rise in AIB to €22.75, the financial index managed an increase of 0.01 per cent.

But shares in the other big financials went down. Bank of Ireland finished 8 cent weaker at €17.25, Anglo was down 5 cent at €15.45 and Irish Life & Permanent gave up 10 cent to finish at €20.85.

The real action won't recommence until next week.

Settlement day: January 2nd